Interviews
News Flash
Istithmar PJSC acquires Loehmann's for Dh1.1bn
22 May '06
1 min read
Istithmar PJSC has signed a definitive agreement to buy clothing retailer Loehmann's Holdings from investment company Arcapita valued at Dh1.1 billion ($300 million).
Arcapita acquired Loehmann's in October 2004 for a transaction value of approximately Dh653 million ($178 million).
Sultan bin Sulayem, Executive Chairman of Istithmar said, "Istithmar has worked alongside Arcapita and Loehmann's, holding a board seat since it made a significant indirect investment in the company in early 2005. We look forward to working closely with Loehmann's management to continue the strong track record of growth."
Loehmann's is a leading US specialty retailer of well-known designer and brand name women's and men's fashion apparel, accessories and shoes at prices that are typically 30 per cent to 65 per cent below department store prices. Currently it operates 60 stores in major metropolitan markets located in 17 states.
Istithmar PJSC is a major investment holding company based in the United Arab Emirates. Launched in June 2003 with an initial investment capital of USD 2 Billion, it coordinates the appraisal and implementation of numerous entrepreneurial ventures.
Arcapita acquired Loehmann's in October 2004 for a transaction value of approximately Dh653 million ($178 million).
Sultan bin Sulayem, Executive Chairman of Istithmar said, "Istithmar has worked alongside Arcapita and Loehmann's, holding a board seat since it made a significant indirect investment in the company in early 2005. We look forward to working closely with Loehmann's management to continue the strong track record of growth."
Loehmann's is a leading US specialty retailer of well-known designer and brand name women's and men's fashion apparel, accessories and shoes at prices that are typically 30 per cent to 65 per cent below department store prices. Currently it operates 60 stores in major metropolitan markets located in 17 states.
Istithmar PJSC is a major investment holding company based in the United Arab Emirates. Launched in June 2003 with an initial investment capital of USD 2 Billion, it coordinates the appraisal and implementation of numerous entrepreneurial ventures.
Istithmar PJSC
Popular News
Leave your Comments
Editor’s Pick
Ritesh Dodhia
Dodhia Synthetics Limited
Durga Prasad Chalavadi
Sai Silks Kalamandir Ltd
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
